Quote: (03-17-2010 09:53 PM)thegmanifesto Wrote:
The trick with partners is that every person I know and respect in the biz world has always told me to "never have partners".
I agree with this emphatically.
There are like six #1 rules of business (never lose money, etc, etc..), depending on who you ask.
But a serious contender for the #1 rule of business is: "Don't trust Anybody". And I mean anybody. Not your father, brother or best friend. Not if you value your business and / or your relationship.
And if you can' trust them, then you cant trust a random partner. And you shouldnt go into business with anyone you don't trust. So, it follows that you shouldnt go into business with anybody; save passive investors in a limited partnership structure, or something similar where your partners have no active participation in running the business.
At least in the USA there are partnership laws that would protect you, if you have the cash to pay the lawyers and buy justice, but likely not in a 2nd or 3rd world foreign country. Unless you held some type of leverage over your partner, you would likely be robbed blind, eventually.
As a matter of fact, I can't imagine running any cash-in-hand business without being ready to watch everyone like a hawk, at all times, especially in a foreign country.
Additionally, theres usually nothing to stop the local government / mob from having their hands in your pockets at all times.
If I were you, I'd look for a less conspicuous business that you can bootstrap on your own. Thats the lowest risk type of business, and likely the most protected from competition and corruption, that you will be able to run in a foreign country.